To start the new year, Brad provides a recap of accounting and auditing standards and updates from 2024.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• Accounting and auditing articles and events
• Join the Accounting & Auditing Standards Interest Group

Accounting professionals are entrusted to safeguard clients’ most sensitive personal and financial information. Heidi Rogers from NJCPA member benefit provider CPACharge dsicusses four critical elements to lock down your data and keep client information safe.

Resources:

• Learn more about CPACharge
• Article: 4 Ways to Protect Your Clients’ Data
• Cybersecurity Knowledge Hub
• NJCPA Marketplace: Cybersecurity services

As the year comes to an end, there are two new accounting standards updates from the Financial Accounting Standards Board (FASB) — one on disaggregation of income statement expenses and another on induced conversions of convertible debt instruments. Brad provides an overview of both ASUs.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures
• ASU 2024-04, Debt - Debt with Conversion and Other Options
• Accounting and auditing articles and events
• Join the Accounting & Auditing Standards Interest Group

A recent KPMG survey reveals that tax departments are poised to lead their organizations into a more resilient and empowered future. David Neuenhaus, partner-in-charge of tax at KPMG, discusses their report, “Tax Reimagined 2024: Perspectives from the C-Suite,” which shows how tax professionals are grappling with the impending expiration of the Tax Cuts and Jobs Act provisions, global tax policy updates and the ongoing pace of regulatory changes.

Resources:

• Tax Reimagined 2024: Perspectives from the C-Suite
• Business Management Knowledge Hub

The AICPA board recently approved updates to the peer review standards to align with the new quality management standards and make some additional changes. And the PCAOB has issued guidance on critical audit matters and auditor responsibilities regarding illegal acts.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• AICPA board approves update to peer review standards
• PCAOB Audit Focus: Critical Audit Matters
• PCAOB Spotlight: Auditor Responsibilities for Detecting, Evaluating and Making Communications About Illegal Acts
• Accounting and auditing articles and events
• Join the Accounting & Auditing Standards Interest Group

The AICPA recently issued an exposure draft on the applicability of AR-C Section 70 to financial statements prepared as part of a consulting services engagement. Hear an overview of the proposal, understand the nuances and find out how to provide feedback.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• Exposure Draft, Proposed SSARS AR-C Section 70 Applicability
• Accounting and auditing articles and events
• Join the Accounting & Auditing Standards Interest Group

Donald Trump won a clear victory in the Presidential race, taking both the popular vote and the electoral college. Dr. Ben Dworkin, director of the Rowan Institute for Public Policy, provides his insights on what happened and why. He also discusses the potential impact of the Trump presidency on tax and business policies.

#IssuesWatch #Podcast #Trump #Election2024 

The U.S. Justice Department is suing financial services giant Visa for allegedly violating antitrust laws in its debit card business. Eric Cohen, CEO of Merchant Advocate, joins us to discuss Visa’s role in the debit card space and the viability and potential impact of the lawsuit.

Resources:

• Learn more about Merchant Advocate (NJCPA Member Benefit Provider)

Three college accounting educators – who are also CPAs – discuss the state of accounting education today. They cover enrollment trends, shifts in curriculum, accommodating varied learning styles, bridging the gap between the classroom and the workforce, alternative pathways to CPA and more.

Resources:

• The State of Accounting Education Knowledge Hub
• CPA Pipeline Knowledge Hub

This episode reviews the top four priorities of the Financial Accounting Standards Board (FASB) Private Company Council (PCC) as well as Public Company Accounting Oversight Board (PCAOB) staff observations from 2023 annual inspection reports.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• FASB Private Company Council top four priorities
• PCAOB Posts 2023 Annual Inspection Reports Alongside Staff Observations and New Charts to Boost Transparency
• Accounting and auditing articles and events
• Join the Accounting & Auditing Standards Interest Group